Indorama, Suntory Forge Thai PET packaging recycling partnership worth 400M bottles/year

THAILAND – Indorama Ventures has partnered with Suntory Holdings, Suntory PepsiCo Beverage (Thailand) and Iwatani to bring commercial-scale Flake-to-Preform recycling technology to Thailand, with production capacity equivalent to approximately 400 million PET bottles annually.

The project, operated through Indovida (Thailand), a joint venture established by Indorama Ventures and Iwatani, marks the first commercial deployment of Flake-to-Preform (FtoP) Direct Recycling Technology in Southeast Asia. 

The patented FtoP process, developed by Suntory and three partner companies including Japanese recycling firm Kyoei Industry, enables PET preforms to be manufactured directly from recycled PET bottles, eliminating intermediate steps in the recycling process. 

The technology is estimated to reduce CO₂ emissions by approximately 70 percent compared with bottles made from virgin fossil-based materials.

Strategic Partnership and Production Timeline

Under the partnership, Indorama Ventures contributes expertise in recycled PET, integrated materials and packaging manufacturing, while Suntory provides the FtoP technology and operational knowledge developed in Japan. 

Iwatani brings industrial expertise and its longstanding relationship with Suntory. From 2028, the recycled PET preforms produced by the venture will be supplied to Suntory PepsiCo Beverage Thailand, making it the project’s first commercial customer. 

Jun Asaki, Chief Sustainability Officer of Suntory Holdings, stated that the introduction of FtoP technology in Thailand represents a significant step forward in expanding sustainable PET bottle adoption across the region. 

The collaboration demonstrates how value chain partners can work together to create circular solutions for PET packaging, reducing reliance on virgin plastics while maintaining the quality and performance standards required for food-grade packaging applications.

CEO’s Vision for IVL 2.0 Strategy

Aloke Lohia, Group CEO of Indorama Ventures, stated that the collaboration reflects the company’s commitment to reimagining chemistry for a more circular future by advancing circular PET packaging in Thailand and beyond, combining the integrated PET value chain with world-class recycling technology and strong industry partners. 

He added that the partnership reflects the IVL 2.0 strategy of building market-leading businesses through focused partnerships, innovation and disciplined investment, creating lasting value for customers, shareholders and other stakeholders. 

The initiative supports broader efforts to reduce dependence on fossil-based materials, increase recycled PET consumption and improve resource efficiency across Southeast Asia.

The project aligns with Thailand’s national waste management goals and supports the country’s transition toward a more circular economy, creating a model for other Southeast Asian nations to follow in developing sustainable packaging infrastructure.

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